EIA: US crude inventory further drawdown last week
EIA: US crude inventory further drawdown last week
In the latest report from the Energy Information Agency (EIA), the commercial crude stocks in the US fell 3.6 million barrels to 420 million barrels in spite of the fact that oil production in the country rose to the highest levels since May 2020.
US gasoline stocks fell 1.5 million barrels while refinery utilization rate rose 0.1 percentage point to 89.7%. The data eased concerns on the Omicron variant might curtail demand.
Net US crude imports rose 515,000 barrels per day last week.